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Emirates NBD, a leading financial institution in the Middle East is pleased to announce that it has partnered with Calypso Technology Inc., the standard for treasury and capital markets software, to deliver one of the world's most comprehensive implementations of its flagship Calypso treasury platform to date. This is a key milestone in Emirates NBD's delivery of its multi-year digital transformation journey, part of the Group's AED 1 billion investment towards digitising operations, products and services to enhance proposition to corporate clients and retail customers.
As an existing Calypso client, the end-to-end upgrade to Calypso Version 15 ensures that Emirates NBD's enterprise treasury solution will continue keeping pace with the increasingly sophisticated needs of its growing Treasury client-base.
Centralisation and consolidation were key goals for the upgrade, ensuring that all products and functions are henceforth available in one single core system, supporting all of Emirates NBD's domestic and international markets. Further benefits include enhanced ease of use and scalability of Emirates NBD's treasury platform. Calypso Version 15 further strengthens the platform's resiliency and availability, while real-time monitoring capability is provided through App Dynamics. Thanks to Calypso's new Front Office Workstation (FOWS), Emirates NBD traders can now efficiently monitor their cross-asset positions and P&L in real time. With Calypso's robust capital reporting framework, Emirates NBD is also well positioned to meet Basel 3's upcoming capital reporting requirements.
Commenting on the achievement, Abdulla Qassem, Group Chief Operating Officer, Emirates NBD said: "As we progressively deliver our AED 1 billion digital transformation, it is critical to support the continued growth of our Treasury business with a sophisticated and scalable enterprise platform. Aligned with this objective, we are very pleased to have completed the Calypso Version 15 upgrade as one of the most comprehensive Calypso implementations of its kind worldwide. With a fully centralised, upgraded treasury enterprise solution in place for all international markets, that also delivers full resilience, availability and real-time monitoring, we look forward to continuing our decade-long partnership with Calypso."
Laurent Jacquemin, Chief Customer Officer, Calypso added: "We are delighted to partner with Emirates NBD in its multi-year transformation program to simplify its target operating model and systems landscape using our front-to-back treasury platform, and to enable the Group to improve decision-making by leveraging Calypso's modern cross-asset Front Office Workstation. The success of this project is testament to Calypso's best in class, front-to-back Treasury and Risk solution."
Emirates NBD's four-year digital transformation is now half-way complete, with an expected end-date of 2020. Launched in 2016, it includes an end-to-end upgrade of Emirates NBD's capabilities across IT systems, architecture and infrastructure, as well as the bank's information security and data, and finally, in terms of its IT business model.
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